Net (Loss) Income Per Share

12 Months Ended

May 31, 2024

Earnings Per Share [Abstract]

Net (Loss) Income Per Share

3. Net (Loss) Income Per Share

Basic net (loss) income per share is based on the weighted average number of common shares outstanding during each year. Diluted (loss) earnings per share is based on the weighted average number of common shares and dilutive potential common shares outstanding. Our dilutive potential common shares outstanding during the years result from dilutive stock options and restricted stock units ("RSUs"). The following table presents the net (loss) income per share calculations:

	Year Ended May 31,
	2024			2023			2022
Numerator for basic and diluted net (loss) income per share — Net (Loss) Income	$	(9,421	)	$	(22,870	)	$	48,307
Denominator for basic net (loss) income per share — Weighted average shares		216,481,878			188,880,836			107,684,000
Effect of dilutive stock options and restricted stock units		-			-			336,000
Denominator for diluted net (loss) income per share		216,481,878			188,880,836			108,020,000
Net (loss) income attributable per share
Basic	$	(0.04	)	$	(0.12	)	$	0.45
Diluted	$	(0.04	)	$	(0.12	)	$	0.45

Due to the net loss in fiscal 2024 and 2023, the stock options and RSUs are anti-dilutive. At May 31, 2024 and May 31, 2023, approximately 332,025 and 147,671 shares, respectively, were excluded from the calculation of diluted net (loss) income per share, because the inclusion of such securities in the calculation would have been anti-dilutive.